IFM Investors Pty Ltd Has $3.26 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

IFM Investors Pty Ltd grew its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 36.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,513 shares of the company's stock after buying an additional 12,991 shares during the period. IFM Investors Pty Ltd's holdings in Molson Coors Beverage were worth $3,262,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company's stock worth $218,168,000 after buying an additional 1,500,269 shares in the last quarter. Morgan Stanley grew its position in Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company's stock valued at $219,194,000 after acquiring an additional 988,864 shares during the period. Invesco Ltd. grew its position in Molson Coors Beverage by 13.0% during the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company's stock valued at $196,332,000 after acquiring an additional 355,694 shares during the period. Pacer Advisors Inc. grew its position in Molson Coors Beverage by 9,466.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company's stock valued at $131,211,000 after acquiring an additional 2,121,211 shares during the period. Finally, Norges Bank purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $127,337,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TAP. Citigroup downgraded Molson Coors Beverage from a "neutral" rating to a "sell" rating and lowered their price target for the company from $66.00 to $56.00 in a research report on Wednesday. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They set a "neutral" rating and a $69.00 price objective on the stock. The Goldman Sachs Group upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. StockNews.com upgraded Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $68.07.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Stock Down 0.4 %

Shares of NYSE:TAP traded down $0.28 during trading on Friday, hitting $62.54. The company's stock had a trading volume of 1,404,619 shares, compared to its average volume of 1,614,564. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The stock's 50-day moving average price is $65.15 and its two-hundred day moving average price is $62.34. The company has a market capitalization of $13.30 billion, a PE ratio of 14.34, a PEG ratio of 2.17 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Molson Coors Beverage's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.81%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio is presently 40.37%.

Molson Coors Beverage Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.